Monthly Payment

[ISFast]

Auto loan calculator - Bankrate.com


This may help with people who want to see how it all works. Also good way for someone who is getting a loan for anything. It breaks it down every month so you can see were it all goes. I know I've used this a lot for the house im getting ready to build and the ISF and Raptor i've had.... everything has been cash and it has hurt me due to no history with excellent credit.

 

[Droid]

Don't mean to be rude, but monthly payment is a completely irrelevant number if you're shopping for a truck and are going to finance it. It's a number you figure out on your own. You should only be concerned with the negotiated price of the truck, negotiated price of your trade-in (if applicable), and available interest rate options.

Monthly payment is the result of an equation with these variables:
- Interest rate
- Loan term
- Down payment
- Trade in allowance
- State and Local Taxes, Fees, Registration
- Negotiated vehicle price discount
- Vehicle options/configuration.

So what sense does it make to compare monthly payments with others? Honestly if you think you're gaining any information from this thread, you're about to get dealer-******.

If you have decent credit, try PenFed (you have to make a very small donation to help our troops, but in return (in addition to helping our troops) you join a credit union that offers 2.49% financing). Then order a truck from Randy.

 

[crashmc302]

W 25,000 down, my minimum is $412 a month but I just pay an even $500 and then insurance, which should be goin down anytime soon. Interest is minimal, about 4%. That was at 24 yrs old. My last truck I bought tho, I put $7,000 down and got 0% interest w payments of only $551 a month and I was 20 or 21. It really just depends on the bank you go through and how you're lookin credit wise. I don't have bad credit by any means, but also the fact it's a damn SVT vehicle also may factor in. Plus, the dealership I went thru doesn't have a very stellar reputation either. They don't really try to help out in any way and are in fact the opposite. More like vultures just waitin for that chance to snatch money from ya every chance possible.

 

[Reptar]

what was your total crashmc? and how many years?

I'm targeting putting down $25k, and financing the rest for 5 yrs. Hoping to keep payments around $500-$550 a month. Depends what kind of financing rate I can get though if I actually put that much down, or knock off a few k to free up some mod money off the bat lol

And yes while this thread is worthless for figuring out your own payment, it is still interesting reading seeing what kind of financing guys have gotten, and what guys are paying on average.

 

[Mrcarcrazy]

If you bank through a Credit Union, check the rates w/ them VS the Dealership...My local Credit union is and has been @ 2.90% on new vehicles for a cpl months. (assuming good credit)

and Reptar, use the Calc. linked to above. you can play w/ all the variables and figure out what works for you.

ha, first post here...at least I felt helpful when I posted it

 

[raccol]

I'm targeting putting down $25k, and financing the rest for 5 yrs. Hoping to keep payments around $500-$550 a month. Depends what kind of financing rate I can get though if I actually put that much down, or knock off a few k to free up some mod money off the bat lol

my loan total after trade, taxes, etc was $26K; used car interest rate was 3.2% for 60 months; payment is $470.

$500-550 should be easily doable

 

[verytalonted]

My Raptor buying story:

5/19/11 - Posted 03 SCrew FX4 with 162,xx miles on it on CL for $8500
5/20/11 - Get email from prospective buyer.
5/21/11 - Make contact via phone with prospective buyer, he comes by to see my FX4. It is still dirty and I wasn't expecting to be showing it so soon. He likes it and brings his wife by to see it/drive it. She likes it too. We agree on a deal at $8000. I owe $4000.
5/23/11 - New owner and I sign bill of sale, it is his truck now.
5/24/11 - Find my Raptor in San Antonio (where my parents live and is 3 hrs away) I call two of my banks to shop for best deal on auto loan.
5/25/11 - I have been approved at two banks to finance $45k. Call Ford dealership with used Raptor, and schedule to buy it that weekend.
5/26/11 - I drive to San Antonio after work and took leave for the next day. Once we get to San Antonio, I go straight to the dealership (even though we were going to do pickup the next, I just wanted to touch the Raptor) Ended up finishing paperwork. Raptor was $43k and ended up being $46k after TT&L and extra warrenty and GAP coverage. Put $1000 down to keep it at exactly $45k. Drove away happy.
5/27/11 - posted pics of Raptor and me all over FB for the haters that said I would never have a Raptor mad.

So my payments are $694/month for the next 6 years. I pay $700. First payment will be on 9/15/11. Because my bank let us push it back till then.

The payment sucks, but it is all worth it.

 

[chapba]

my story.....lol (had to do it!)

2/11-4/11 searched for a BONE STOCK raptor for 3 months in 4 states online....
found....none, especially in Vegas (WhyTF do people need heated seats and a backup cam anyway?!?!) lol sorry personal rant and to each their own when i first found out about the truck 2 years ago, all i wanted was the 6.2 and $$$ for gas lol

Obviously didnt use this website to its fullest BEFOREHAND!!
anyway back to the story...

4/20 find a 11' SCREW in albuquerque NM (old stomping grounds) that is nice but i dont really dig the four door model....i just think it looks awkwardly long for an off road truck

4/22 four days before going to TX for another fire assignment i find my STOCK 11' SCAB coming on a train from Houston TX bound for albuquerque saturday morning (**** yea! )

4/23 I arrive 2 hours before It arrives and start wheelin and dealing out the gate!
End up with $713 which is doable but obviously on the higher end (damn you college debt lol).... at least i thought it was (was hoping for $600)

I put $4K down and got the $4k ford credit and the truck was already 1k under msrp (nice guy at Rich Ford but he bragged later about getting 2K over msrp on another guy for the SAME EXACT model.....i wasnt sure if I was supposed to be happy for him or feel bad for the other guy...

fast forward to this past week and my credit union mentions they can drop the rate by more than half so it ends up being $603 a month

so yea i coulda done better in the beginning but it all worked out.

Final bill TTL was a lil over 35k. AND I LOVE MY BONE 'STOCK' 6.2 BAMF TRUCK

 

[6.2]

Nice! Glad to hear things worked out for ya!!



-Posted with my iPhone.

 

[JP7]

Why not. I think I'll get the award for the highest one.

I'm at just over $1100 a month for the next 4 years, and pay $140 a month for insurance.

That may seem high, but was done on purpose as it will save me over $6000 in taxes not including mods which are also a 100% writeoff